Sony Corporation of America announced that it has completed the sale of its Gracenote subsidiary to Tribune Company for $170 million.
For more information visit: www.sony.com
Unedited press release follows:
Sony Corporation of America Announces Closing on Sale of Gracenote, Inc.
NEW YORK, Feb. 3, 2014 — Sony Corporation of America, a wholly-owned subsidiary of Sony Corporation (“Sony”), today announced that it has closed on the sale of all of the shares of Gracenote, Inc., a wholly-owned subsidiary of Sony Corporation of America, to Tribune Company for $170 million, subject to customary post-closing adjustments. The sale was announced on December 23, 2013.
As previously announced, Sony will record a gain within operating income of approximately $60 million during the fourth quarter of the fiscal year ending March 31, 2014 as a result of the sale. Sony included an anticipated gain from this sale in the forecast for the fiscal year ending March 31, 2014, which was announced on October 31, 2013.
About Sony Corporation of America
Sony Corporation of America, located in New York, NY, is the U.S. headquarters of Sony Corporation, based in Tokyo, Japan. Sony’s principal U.S. businesses include Sony Electronics Inc., Sony Mobile Communications (USA) Inc., Sony Computer Entertainment America LLC, Sony Network Entertainment International LLC, Sony Pictures Entertainment Inc., Sony Music Entertainment, Sony/ATV Music Publishing LLC, and Sony Online Entertainment LLC. With some 900 million Sony devices in hands and homes worldwide today, a vast array of Sony movies, television shows and music, and the PlayStation Network and the Sony Entertainment Network, Sony creates and delivers more entertainment experiences to more people than anyone else on earth.
Sony recorded consolidated annual sales of approximately $72 billion for the fiscal year ended March 31, 2013, and employs 146,300 people worldwide.
About Gracenote
Gracenote, Inc. provides music and video content and technologies to the world’s hottest entertainment products and brands. Gracenote is the industry standard for music and video recognition and is supported by the largest source of music and video metadata, featuring descriptions of more than 130 million tracks and TV listings for 28 countries. A wholly owned, independent subsidiary of the Sony Corporation of America (SCA), Gracenote has offices in Tokyo, Munich, Berlin, Seoul, Taipei and San Francisco with worldwide headquarters in Emeryville, California.